Last night was perhaps the strangest yet of Trump 2.0. The US is going to somehow “take over” Gaza and develop it as a resort? Right…

This was on top of disappointing earnings for both Alphabet and AMD. So, it’s only fitting that our power is out this morning too.

continued for members...

Everything’s going to take a little longer this morning without lights and fast WIFI.  But, today is essentially an extension of yesterday: it’s a good time to be cautious.

Note that USDJPY has officially tagged its SMA200.

Interestingly, the oil market is ignoring the Trump announcement – perhaps assuming it’s just another lame attempt to bluster a political outcome.

But, it’s noteworthy that the 10Y is starting to break down again.

Stay tuned…